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How much are you earning per annum?

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  #6651 (permalink)  
Old 05-02-2015, 08:07 AM
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This is a good retirement strategy. Retirement should not be difficult if you have these:

1. A paid up property. You can rent out your empty rooms to FTs. But we must welcome more FTs or else we have empty rooms and empty condos. You can rent $700 for each hdb flat room so you get $1400 pm for two rooms.

2. CPF Life. You will get $1200 pm for one person or $2400 for a retired couple.

3. Children. Each child can give you $500 pm so if you have 2 children, you will get $1000 pm.

So, in total your passive income as a retired couple is $4,800 pm.

The amount is considered huge and more than you need provided you:

1. Do not own a car during retirement.
2. Do not employ a maid which now will cost you $1000 pm.
3. Do not drink. Waste of money and will incur big medical bills. Sinful.
4. Do not smoke. Waste of money and will incur big medical bills.
5. Do not gamble. Will lose a lot of money. Sinful.
6. Do not womanize. Lose a lot of money. Sinful.
7. Do not party. Waste money. Sinful.

All the best.


Quote:
Originally Posted by Unregistered View Post
54/ 53, married couple with grown up son.
My income $80k pa, my wife's income $70k pa, my son's income $40k pa.
We live in an EC which we bought for $450k in 2005. Now paid up.
We plan to retire in 6 years time when our son gets married and live in his BTO flat.
We will rent out two of our rooms for $1000 pm each.
We also have passive come from dividends of $3000 pm.
Our total passive income will be $5000 pm.
This is enough as we just need to spend on food, utilities, condo fees and bus fares.
When we reach 65, we will get additional income from cpf life of $2400 pm.

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  #6652 (permalink)  
Old 05-02-2015, 11:06 AM
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i also wishing.

Last time COE dropped to so low, people start scrapping their new cars to get back the COE they secured at high prices, and then re-enter the market. At that time, I cheonged and bought a Sunny at $50K for the wife and a Trajet for $65k for family use. Now both their COEs nearly due. How???

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Then you better start preparing your cash now..... bcos the COE is going to sink to $30k soon. Every quarter we will have extra quota, it will drop $6k. It is happening soon.

Huat ah!


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  #6653 (permalink)  
Old 05-02-2015, 11:37 AM
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Quote:
Originally Posted by Unregistered View Post
i also wishing.

Last time COE dropped to so low, people start scrapping their new cars to get back the COE they secured at high prices, and then re-enter the market. At that time, I cheonged and bought a Sunny at $50K for the wife and a Trajet for $65k for family use. Now both their COEs nearly due. How???

Very simple. Scrap both and buy new one at COE$30k.
When COE drop further to $20k, then you can buy one more.
Sure Huat one.

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  #6654 (permalink)  
Old 05-02-2015, 06:51 PM
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Big Brother Borneo Motors dropped $6k in it's Toyota Camry.

COE confirm it's going down trend.

I am going to wait a few more quarters. Hopefully can get my low COE!
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  #6655 (permalink)  
Old 05-02-2015, 09:04 PM
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trader for own account,
a payday, will mean a drawdown.

you guys with a safe paycheck is admirable.
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  #6656 (permalink)  
Old 05-02-2015, 11:00 PM
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47/ income $133k pa / savings $40k pa
Wife 42/$100k pa/ savings $40k pa
Assets: condo, cash, car, CPF
Liabilities: condo mortgage
Condo is now worth $1m while mortgage left is $500k
Our combined net worth:
1. Condo equity value $500k
2. Cash $40k
3. CPF (OA+SA+MA) $450
Total net worth $990k
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  #6657 (permalink)  
Old 05-02-2015, 11:27 PM
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Quote:
Originally Posted by Unregistered View Post
47/ income $133k pa / savings $40k pa
Wife 42/$100k pa/ savings $40k pa
Assets: condo, cash, car, CPF
Liabilities: condo mortgage
Condo is now worth $1m while mortgage left is $500k
Our combined net worth:
1. Condo equity value $500k
2. Cash $40k
3. CPF (OA+SA+MA) $450
Total net worth $990k
Why is your cash so low when you and your wife can save a combined 80k per year?
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  #6658 (permalink)  
Old 05-02-2015, 11:35 PM
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1989
71k pa (exclude bonus)
Non-grad
IT in a foreign bank
Single
No assets/liabilities

Investment: endowment and cpf only

Any tips to have a decent passive income?
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  #6659 (permalink)  
Old 05-02-2015, 11:43 PM
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Finally the car dealer has gone missing after telling everyone that COE will sky rocket the roof, when the fact is COE just started its decline journey. Ha ha.
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  #6660 (permalink)  
Old 05-02-2015, 11:58 PM
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Quote:
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Finally the car dealer has gone missing after telling everyone that COE will sky rocket the roof, when the fact is COE just started its decline journey. Ha ha.
36 male
82k working in a stat board
married with 1 kid
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